Economic Outlook and Furlough Scheme Changes

Baroness Altmann Excerpts

Thursday 18th June 2020 Lords Chamber

[Baroness Penn]

I completely agree with the noble Lord that we need to take preventive action on homelessness as well as dealing with the problem where it arises. The Government have put in place a three-month moratorium on evictions, which can be extended. We have also increased the generosity of the local housing allowance to help those who are renting but may have lost their job or income due to coronavirus. A couple of noble Lords have now raised the question of investing in businesses; most of our support is of course given through loans to businesses, but the Future Fund makes equity investments in early start-ups that have been unable to access other finance.

[Baroness Altmann (Con) [V]]

My Lords, I congratulate the Government on their speedy furlough scheme, protecting the jobs of people who were at risk from this sudden economic shock. But does my noble friend agree that, given the likelihood of huge numbers on furlough ending up being made redundant, it is enormously important to beef up apprenticeships and training opportunities across the country as we try to recover from this pandemic?

[Baroness Penn]

I absolutely agree with my noble friend about the importance of apprenticeships and other schemes that will help people who have unfortunately lost their jobs during this pandemic to re-enter the labour market and recover as our economy opens up.